Updated Duplex with Stilt
For Sale
$439,000
1480 1480/1482 Lura Ave, Fort Myers, FL 33916
Two separate residential units offer individual utilities, private laundry areas, and shared outdoor space.
Property Size1,760 SF
Price / SF$249.43
Days on Market62
Property Features for 1480 1480/1482 Lura Ave
General Information
Standard status
Active
Size
1,760 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Additional Details
Utilities to Site
Yes
Amenities
shared deck
separate laundry rooms
Building Details
Year Built
1981
Buildings
2
Listing Agency:
Corkscrew Real Estate
Listed By:
Gabriel Jorge · License #3484151
(239) 351-4872
Source:
Swfloridarealestate
Added: Aug 18
Changed: Oct 2
Last Checked: Oct 7 at 2:29PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Corkscrew Real Estate
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Investment Insights
Based on property information with market context.
This duplex comprises two detached stilt residences, each measuring 880 square feet with two bedrooms and one bathroom. Both units include separate electric and water meters, while city sewer serves the property. Laundry and storage areas are positioned beneath the homes, and the residences share an elevated deck.
Property improvements include replacement of the stilt beams in 2020, impact windows and new siding, and a permitted roof replacement completed in 2022. One HVAC system was replaced in 2021, followed by additional storm-related roof work in 2023. The front residence received a bathroom update in 2021, and later work includes vinyl plank flooring, a 2026 kitchen renovation, and refreshed split storage-laundry areas. The property is located at 1480/1482 Lura Ave in Fort Myers, Florida, and was built in 1981.
Property improvements include replacement of the stilt beams in 2020, impact windows and new siding, and a permitted roof replacement completed in 2022. One HVAC system was replaced in 2021, followed by additional storm-related roof work in 2023. The front residence received a bathroom update in 2021, and later work includes vinyl plank flooring, a 2026 kitchen renovation, and refreshed split storage-laundry areas. The property is located at 1480/1482 Lura Ave in Fort Myers, Florida, and was built in 1981.
Key Highlights
- Two detached 880‑square‑foot stilt homes, each with 2 bedrooms and 1 bathroom
- Separate electric and water meters for each unit
- City‑sewer service
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$23,296
Cap Rate
5.31%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$465,920
$465.9K
Cap Rate 7%
$332,800
$332.8K
Cap Rate 9%
$258,844
$258.8K
Market Conditions
NOI Build-Up for 1,760 SF
Gross rent
$34.8K $19.80/SF
− Vacancy
−$1.6K −$0.89/SF
EGI
$33.3K $18.91/SF
− OpEx
−$10.0K −$5.67/SF
NOI
$23.3K $13.24/SF
Area
Lee County, FL
Vacancy
4.50%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$465,920
Cap Rate 7%
$332,800
Cap Rate 9%
$258,844
Alternative Uses
Best Use
Multifamily LT 5
$332.8K
$291.2K – $388.3K
NOI $23,296 @ 7.0% cap · market cap 5.31%
Second Best
Apartment 5plus
$308.4K
$269.9K – $359.8K
NOI $21,589 @ 7.0% cap · market cap 4.92%
Theoretical Best
Office A
$553.9K
$484.7K – $646.3K
NOI $38,776 @ 7.0% cap · market cap 8.83%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
501
Businesses Nearby
Explore this area
Business Placement
Demographics for 33916, FL
25,940
Population
12,480
Households
2.1
Avg Household Size
34
Median Age
21%
College-Educated
81%
High-School Grad
10.3 sq mi
ZIP Area
2,518
Density / Sq Mi
$49,353
Median Household Income
$32,770
Median Earnings
$1,363
Median Rent
$242,300
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Two separate residential units offer individual utilities, private laundry areas, and shared outdoor space.
Where is this duplex located?
The property is located at 1480 1480/1482 Lura Ave Fort Myers, FL.
What is the asking price?
The asking price for this property is $439,000.
What are key features of this property?
This property features: Two detached 880‑square‑foot stilt homes, each with 2 bedrooms and 1 bathroom; Separate electric and water meters for each unit; City‑sewer service
